N.B. Liberal Party is rolling in the money
Published Saturday July 4th, 2009
Politics | Liberals have $1 million more than Conservatives
The New Brunswick Liberal Party has joined the millionaire club.
The New Brunswick Liberal Association is so rich that in the second half of 2008, the party bought a million-dollar guaranteed investment certificate.
The Grits may be falling in the public opinion polls, but in the second half of 2008 the ruling Liberals raised more money than the Progressive Conservative Party of New Brunswick, according to the latest figures from the Office of Political Party Financing.
According to data released July 1, the Liberals raised $882,117 between July 1, 2008, and Dec. 31, 2008. The party ended 2008 with $1,320,321 in the bank, which includes the $1-million GIC with BMO Nesbitt Burns.
A spokesperson for the Liberal party couldn't be reached for comment Friday.
In contrast, the Tories raised $528,458.37 and ended the year with a balance of $217,617.68.
Meanwhile, the New Brunswick NDP hasn't filed a financial statement since 2007.
Party president Pat Hanratty said Friday that the party is catching up on its books.
"Everything is at the auditors right now," he said. "We expect to be caught up very shortly."
The Liberals raised $3,863 in memberships, $32,129 from individual donations of $100 or less, and $170,863 from individual donations of more than $100.
The Tories collected $14,965 in memberships, $14,073.03 from individual donations of $100 or less, and $44,258.78 from individual donations of more than $100.
But where the Grits really cleaned up was in corporate donations, where they collected in $472,191. The Tories took in only $61,414.37.
A spokesperson for the Tory party couldn't be reached for comment Friday.
Under the Political Party Financing Act, all political parties in New Brunswick must file financial statements twice a year.
In return, they get funding from taxpayers based on the number of votes they received in the most recent election.
The Tories get more funding than the Liberals because they got more votes in 2006. But the Liberals formed the government because they won more seats.
The Tories received $157,492.86 and the Liberals got $156,482.
There are some big corporate names on the Liberal donors list, including: $4,000 from Toronto-based Scotiabank; $4,064.66 from Moncton-based Spielo Manufacturing, ULC; $3,000 from Toronto Dominion Bank; $654.59 from J.D. Irving of Saint John; and $4,055.90 from the Belledune Port Authority.
Two companies that have since fallen on hard times also donated a lot of money to the Liberals.
Atcon Management Services Ltd. of Miramichi recently received $50 million in loan guarantees from the Liberal government. It donated $4,055.90 to the Liberal party in the second half of 2008.
Blue Note Caribou Mines Inc. of Bathurst has gone bankrupt. It also donated $4,055.90 to the Liberals during the same period.
There are also lots of Fredericton companies that gave money to the ruling Liberals, including: Enbridge Gas New Brunswick Ltd., $4,691.57; Marwood Ltd. which gave the maximum allowed by law, $6,000; Peters Meat Market, $600; Bulletproof Solutions Inc., $811.18; Corey Feed Mills Ltd, $811.18; and ADI Ltd., $981.12.
The Tories also have some big names giving them money, including: J.D. Irving Ltd. of Saint John, $3,398.98; Toronto Dominion Bank Financial Group of Toronto, $3,000; and TD Securities of Toronto, $1,000.
Some companies gave money to both parties, such as Maple Leaf Homes Inc. of Fredericton, which gave the Tories $1,327.06 and the Liberals $811.18.
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